READ:-Blue candle as boring/base candle and Black candle as explosive candle FInd two explosive candle (Black) where two base/boring (Blue) candles are in between. It will be marked as demand and supply zone. Those who leant demand and supply will find this indicator usefull for findin and marking zones.
#When yuy find a Explosive candle , it become a potential demand and supply zone. It depens on second candle thou.
Thanks Love INDYAN
Notas de Lançamento
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Added 50 SMA as one of friend follower requested for that,Hope it will help other trader friends too...:)
// Input variable for candlestick body size (%)
inputBodySize_per = input(defval=50, type=input.float, title="Max Body Size <=%",minval=1, maxval=99)
// Input variable for candlestick Color
bar_color = input(color.yellow, title="Boring Candle", type = input.color)
// Candle Stick low high range Comparison (1%)
LowHighRange_per = (abs(high - low) / 100)
// Candle Stick Open Close Range Comparison (%)
OpenCloseRange_per = abs(open - close) / LowHighRange_per
//Bar Color Set
barcolor(OpenCloseRange_per<=inputBodySize_per ? bar_color : na, title="Boring Candle")
//-------------------------------------------------------------
// Explosive Candles Simple
//-------------------------------------------------------------
mp = input(2.0, title="Multiplier for Explosive Move",type=input.float)
ratio = input(50, title="Range-Body Ratio for Explosive Move")
cand = input(100, title="Average Number of Candles for Explosive Move")
range = atr(cand)
candr = abs(high-low)
bodyr = abs(open-close)
barcolor((bodyr/candr)>=ratio/100 and candr>=(range*mp) ? color.blue:na, title="Explosive Move")